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India and EU ready to announce trade deal

2026-01-27 08:49:00, Kosova & Bota CNA

India and EU ready to announce trade deal

The European Union and India are set to announce a major trade deal after nearly two decades of intermittent talks, as both sides aim to deepen ties amid tensions with the US.

India's Commerce Secretary Rajesh Agarwal said on Monday that negotiations had concluded and the deal had been finalised. European Commission President Ursula von der Leyen and European Council President António Luís Santos da Costa are in Delhi, where the announcement is expected. Both India and the EU are seeking to strengthen strategic and trade ties with the rest of the world while facing economic and geopolitical pressure from the US.

Delhi is facing 50% tariffs imposed by President Donald Trump last year, amid talks aimed at securing a trade deal between India and the US that are still dragging on. The EU has just emerged from a stressful week after Trump threatened to escalate his trade war with European allies over opposition to a US annexation of Greenland, before backing down.

The trade deal will send an "important political message to the world that India and the EU believe more in trade agreements than in tariffs" at a time when protectionism is on the rise and "some countries have decided to raise tariffs," Costa said on Monday without mentioning the US.

Von der Leyen said Europe and India are "committed to working together to shape a new global order."

Von der Leyen and Costa arrived in Delhi over the weekend and were the chief guests at India's colorful Republic Day celebrations on Monday.

The formal signing is likely to take place only later this year, after the agreement is approved by the European Parliament and the European Council./CNA, translated by BBC





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